In the Marketplace
September 01, 2003
Highlights of the latest equipment leasing news from around the country.
<b><i>Clause & Effect</b></i>Challenges in Drafting Clauses to Arbitrate
September 01, 2003
Parties to entertainment industry agreements often include a provision for the arbitration of contract disputes. This may be motivated by the lower cost and less formality than court proceedings that arbitration can offer, as well as the ability to keep arbitrated disputes out of public view. But the simple language of an arbitration clause can lead to challenges over whether the arbitration process was proper.
The Survey Says...
September 01, 2003
Preliminary results from our legal spending survey shows general counsel balancing an increased need for outside counsel with pressure to reduce costs.
Out of Bounds: Radius Restrictions in Shopping Center Leases
September 01, 2003
A common restrictive covenant in shopping center leases is the so-called "radius restriction," a lease provision that prohibits a tenant from opening a competing establishment within a proscribed distance from the present location. Typically, a radius restriction goes hand in hand with a percentage rent provision, which allows the landlord to participate in the tenant's gross sales after a certain threshold or "break point" is achieved.
Strategies for Securing Against Tenant Defaults
September 01, 2003
Part One of a Two-Part Series. This two-part article describes some of the strategies that a landlord might utilize to protect itself from the impact of a tenant default or bankruptcy as it structures leasing transactions. The realization that landlords have become more security conscious will cause tenants to prepare themselves better to structure a deal that will accommodate the landlord's needs with the least possible burden.<p><i>Part One of a Two-Part Series</i>
Costs of Being Public Rise 90% under Sarbanes-Oxley
September 01, 2003
<b><i>A New Study Confirms What Has Been Thought All Along</i></b> Costs directly associated with being public have almost doubled as a result of Sarbanes-Oxley (the Act), with more increases on the way, according to a study by our national law firm, Foley & Lardner. The rise in costs, which affects all public companies regardless of market capitalization or revenue, largely is driven by increases in accounting fees, director and officer insurance premiums, and legal fees.
The Effect of Bankruptcy on a Subchapter S Election
September 01, 2003
A new tax case from the U.S. Tax Court addresses the question of whether the filing of a Chapter 11 case by a Subchapter S corporation terminates the company's Subchapter S election. This case is important to the shareholders of a Subchapter S corporation that might have post-petition taxable income.
Moving to LEDES 2000
September 01, 2003
Introduced in 1998, the Legal Electronic Data Exchange Standard (LEDES') format rapidly became the de facto US standard format for moving legal invoices from law firms to corporations. LEDES has been embraced by law firms and corporate legal departments, time-and-billing system vendors, corporate matter management vendors, and electronic invoicing and cost management vendors. It's been estimated that more than 90% of legal invoices moving electronically today are formatted according to LEDES 1998B, the first released version of the standard.
Getting the Most from Survey Participation
September 01, 2003
In an insightful Dilbert" cartoon, the boss is reviewing the results from a recent survey with two employees. The survey results being less than desirable, the boss states, "Managers' bonuses are linked to these results. You can be sure we'll make big changes ... to the survey. " Surveys can be a strategic asset and viable financial tool when assessing certain aspects of your firm. Surveys can also be useful in evaluating merger opportunities. Perhaps the best use for survey information is to identify needed improvements and illustrate the benefits of change. Improperly utilized, however, survey data can cause more harm than good. Survey results taken out of context can create unrealistic expectations among partners, foster unhealthy and divisive comparisons between practices or offices, promote unachievable strategic objectives, and generate broad-based anxiety and apprehension.
Jumping Through Hoops: Discovery of Records under HIPAA
September 01, 2003
When medical malpractice defense counsel first heard of the new privacy regulations issued by the U.S. Department of Health and Human Services under the Health Insurance Portability and Accountability Act of 1996 (the HIPAA privacy regulations), most probably thought that these detailed and complicated laws would affect only their regulatory health care colleagues. How great an impact the HIPAA privacy regulations will have on medical malpractice litigation, in general, is yet to be seen, but it is clear that these regulations have immediately affected discovery of medical records in med-mal cases.
